Revenues on fines and sanctions to halve


November 13, Fineko/abc.az. Azerbaijani State Budget revenues from fines and sanctions are expected to reduce two-fold next year compared with 2019.

ABC.AZ inform that the statement was made by the press service of the Ministry of Finance.

According to the Ministry, already for Jan-Sept 2019 the amount of accrued financial sanctions totaled AZN 42.6 million that is by 3 times or AZN 154.6 million less against the same term of 2018. Thus, in accordance with the ongoing reforms in tax and customs spheres, the reduction of the number of tax audits, improvement of e-services for the purpose of transparency of accounting, the beginning of introduction of new generation cash registers with replacement of tax liabilities, the elimination of informal employment, strengthening of control by third parties in the field of import & export operations, have shown positive impact on the decrease of revenues on fines and sanctions.